George Santayana, a Spanish poet and philosopher said, "Those who do not learn history are condemned to repeat it." This quote applies to the Great Depression of 1929 and the Great Recession of 2008. There are many similarities between the two, such as causes, actual events, and consequences. Several factors led to the Great Depression, which were as follows: overproduction by business and agriculture, unequal distribution of wealth, Americans buying less, and finally, the stock market crash of 1929. The Great Recession also had similar factors who brought it, as the real estate “bubble” burst and consumption decreased. In both events, presidents implemented programs that they believed would help the American people. In the early 1920s, overproduction hit American farmers. New agricultural methods have led to increased food production; however, they were competing with farmers from other countries. Due to this, a global glut of agricultural products, a decrease in profits and prices. Many farmers couldn't make a profit from their crops, so they couldn't even repay bank loans. This weakened the banks and forced them to close. Furthermore, American factories produced most of the world's goods. Large profits were made, but there was an unequal distribution of wealth, which made the rich richer and the poor poorer. The richest percentage of the population was given 33% of all personal income. The middle class did not exist. About forty percent of the US population was never affected by the Great Depression because they had money. Since most families had no money to purchase goods, shop owners had to reduce orders from factories. For this reason, factories had to lay off workers and reduce... half the paper... the effects of the recession. Many people still believe that we are in a recession today. They still feel the effects because they have upside-down home loans, are unemployed and depend on the government to get ahead in life. In conclusion, the Great Depression and the Great Recession were very similar to each other. Their causes both included unequal distribution of wealth and lower consumer spending. They were very similar to each other because they were both worldwide depressions. Banks failed all over the world. Their consequences were also similar because they both had to increase taxes and unemployment rates increased. In both cases, high unemployment rates were the main consequence that affected the American people. Future politicians will study their history. Knowing our history is important. We must learn from it so as not to repeat our mistakes.